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MTF Engulf / Engulf fail

  • #5,661
  • Dec 12, 2024 3:36am Dec 12, 2024 3:36am
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short or long? i was in a m3 ef/eg long but stopped out, now confused about direction?
  • #5,662
  • Dec 12, 2024 6:39am Dec 12, 2024 6:39am
Quoting fxpider
Drawing multi-color levels and lines in MT5 is a headache. After doing all the hard work, it's tough to concentrate on candle/price action due to so many colors Please suggest any color combination that is easy on the eyes.
4 boxes in a time frame will let you see better?
gold reached weekly high. that's why not trading.
i do not see the direction clearly. price is neither above or below any boxes.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #5,663
  • Dec 12, 2024 6:57am Dec 12, 2024 6:57am
usdjpy is still being dictated by a weekly bearish candle.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #5,664
  • Dec 12, 2024 7:06am Dec 12, 2024 7:06am
Gold sell trade. TFs used are D1, H1 and M5.
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Trading is not easy
  • #5,665
  • Dec 12, 2024 7:14am Dec 12, 2024 7:14am
Quoting Inthebox
{quote} 4 boxes in a time frame will let you see better? gold reached weekly high. that's why not trading. i do not see the direction clearly. price is neither above or below any boxes. {image}
let's say, I use 3 TFs so I have to deal with at least 3x4 = 12 boxes in the same chart, unless I use 1TF per chart. And then, if you trade multiple pairs... that's it. Either I am left with too many charts with 4 boxes in each or charts with too many boxes in each.

Usually, it's not an issue, as TV takes care of all the complexities of mapping, and Mt4/Mt5 is used only for trading. But today, I had to do the mapping in Mt5, which was hard on the eyes.
Success = Practice + Patience + Persistence
  • #5,666
  • Dec 12, 2024 7:16am Dec 12, 2024 7:16am
PPI coming.
ITB - Seeing Orderliness amongst 'Randomness'
  • #5,667
  • Dec 12, 2024 7:21am Dec 12, 2024 7:21am
Quoting fxpider
{quote} let's say, I use 3 TFs so I have to deal with at least 3x4 = 12 boxes in the same chart, unless I use 1TF per chart. And then, if you trade multiple pairs... that's it. Either I am left with too many charts with 4 boxes in each or charts with too many boxes in each. Usually, it's not an issue, as TV takes care of all the complexities of mapping, and Mt4/Mt5 is used only for trading. But today, I had to do the mapping in Mt5, which was hard on the eyes.
suggest that you monitor 2 pairs. maybe gold and usdjpy.
enough for day trading. i do not think you will miss the rest much.
4 time frames on your monitor. 4 boxes in a time frame.
unless when you see your monitor, you are unable to track the 4 time frames.
when you have decided the direction to trade, you only need to focus on the trade control and confirmation entry time frame.
ITB - Seeing Orderliness amongst 'Randomness'
  • #5,668
  • Dec 12, 2024 7:29am Dec 12, 2024 7:29am
let's see whether the PPI favor a buy for gold.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #5,669
  • Edited 7:44am Dec 12, 2024 7:32am | Edited 7:44am
PPI or unemployment claims to dictate gold?
give it 30 min to decide.
meanwhile usdjpy drops.

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ITB - Seeing Orderliness amongst 'Randomness'
  • #5,670
  • Dec 12, 2024 8:03am Dec 12, 2024 8:03am
gold
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ITB - Seeing Orderliness amongst 'Randomness'
  • #5,671
  • Dec 12, 2024 8:23am Dec 12, 2024 8:23am
Quoting Inthebox
gold {image}
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this can also be a tc?
  • #5,672
  • Dec 12, 2024 8:23am Dec 12, 2024 8:23am
Quoting huskyboy
{quote} {image} this can also be a tc?
gold. no set up in previous TC.
i consider it a healthy move to long.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #5,673
  • Dec 12, 2024 9:26am Dec 12, 2024 9:26am
Quoting Inthebox
{quote} gold. no set up in previous TC. i consider it a healthy move to long. {image}
everyone has the "head knowledge" of "what to do" as you can see in the gold thread.
most would not dare to long the drop.
but ultimately it is the performance that counts.
do you have the patience and discipline to wait for consistency trade set up?
if the set up fails are you able to accept 30% failure rate?
and knows that you are winning 70% of the time.
as long as you follow the rules, have no regrets.
ITB - Seeing Orderliness amongst 'Randomness'
  • #5,674
  • Dec 12, 2024 9:51am Dec 12, 2024 9:51am
gold. long set up.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #5,675
  • Dec 12, 2024 9:56am Dec 12, 2024 9:56am
meanwhile comparing with gold, usdjpy is in a mess.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #5,676
  • Dec 12, 2024 7:20pm Dec 12, 2024 7:20pm
Quoting Inthebox
meanwhile comparing with gold, usdjpy is in a mess. {image}
The first attempt (H1) in the ASIA session failed to close above the weekly high. Let's see how the H4 closes in an hour.
Success = Practice + Patience + Persistence
  • #5,677
  • Dec 12, 2024 7:28pm Dec 12, 2024 7:28pm
Quoting Inthebox
{quote} gold. no set up in previous TC. i consider it a healthy move to long. {image}
Quoting Inthebox
gold. long set up. {image}
gold long ef eg set up
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ITB - Seeing Orderliness amongst 'Randomness'
  • #5,678
  • Dec 12, 2024 7:44pm Dec 12, 2024 7:44pm
usdjpy long set up
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ITB - Seeing Orderliness amongst 'Randomness'
  • #5,679
  • Dec 12, 2024 10:03pm Dec 12, 2024 10:03pm
gold.
previous events should help you to make decision.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #5,680
  • Dec 12, 2024 10:04pm Dec 12, 2024 10:04pm
week end coming.
it's time to review # post 1.
ITB - Seeing Orderliness amongst 'Randomness'
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